Example of Unfair UDAAP Violation

Example of Unfair UDAAP Violation

In this Compliance Clip (video webinar), Adam provides a case study example of an “unfair” UDAAP violation, which is just one of three types of violations when considering all types of UDAAP violation examples. This video explains that one example of an unfair UDAAP violation would be when a servicer refuses to release a lien after a mortgage loan has been completely paid off by a consumer. As you would expect, this practice is a “bait and switch” tactic where consumers would not have expected to be unable to get their liens released after paying of their mortgage loan and the result, of course, is an example of an “unfair” UDAAP violation.

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